Why One Fund Ditched $6.3 Million of This Clean Energy ETF Amid a Steep Rally

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mint the next wave of millionaires ›London-based Perbak Capital Partners fully exited its position in the iShares Global Clean Energy ETF (NASDAQ:ICLN) during the third quarter, a move reflecting a $6.33 million net position change, according to a November 13 SEC filing.According to a filing with the Securities and Exchange Commission dated November 13, Perbak Capital Partners reported selling all its 482,918 shares of the iShares Global Clean Energy ETF (NASDAQ:ICLN) in the third quarter. The transaction value was $6.33 million.Perbak's ICLN stake previously represented 1.4% of its 13F assets.Top holdings after the filing:NYSEMKT:XLI: $68.98 million (12.1% of AUM)NYSEMKT:RSP: $54.93 million(9.7% of AUM)NYSEMKT:XLP: $42.44 million (7.5% of AUM)NYSEMKT:SPY: $34.66 million (6.1% of AUM)NYSEMKT:XLV: $24.13 million (4.2% of AUM)As of Tuesday, shares of ICLN were priced at $16.45, up 43% over the past year and well outperforming the S&P 500, which is instead up about 17% in the same period.MetricValueAUM$1.95 billionDividend Yield1.5%Price (as of Tuesday)$16.45One-Year Total Return50%ICLN's investment strategy seeks to track the performance of approximately 100 global clean energy companies by replicating a specialized index.Its portfolio consists primarily of equities in the clean energy sector, with at least 80% of assets allocated to index constituents and up to 20% in derivatives or cash equivalents.It's structured as a non-diversified ETF seeking exposure to the clean energy theme.The iShares Global Clean Energy ETF (ICLN) provides investors with targeted access to a basket of global companies engaged in clean energy production and technology. The fund's strategy emphasizes index replication, ensuring broad sector exposure while maintaining liquidity and transparency. ICLN's scale and focus on clean energy make it a key vehicle for investors seeking to align portfolios with the energy transition and sustainability trends.Moves like this matter less because of their size and more because of their timing. Selling a clean energy ETF after a sharp rebound is a reminder that even thematic winners can stop making sense inside a broader portfolio. ICLN has rallied more than 40% over the past year, outperforming the S&P 500 and reversing years of disappointment. That recovery alone changes the calculus for investors who originally bought the fund as a contrarian or recovery play.What stands out is how this exit fits with the rest of the portfolio. The remaining holdings skew heavily toward broad, cyclical exposure through industrials and staples ETFs rather than narrow thematic bets. That potentially suggests discipline as opposed to a disbelief in clean energy. Locking in gains and reallocating toward diversified exposures can be just as bullish as doubling down.Ultimately, ICLN remains a concentrated vehicle. Its performance is driven by a relatively small group of global renewable power producers, equipment makers, and utilities, many of which remain sensitive to interest rates, policy shifts, and subsidy regimes. That makes it a useful tactical tool, but a volatile long-term anchor.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,845.50 -50.74 (-0.74%)Dow 3048,063.29 -303.77 (-0.63%)Nasdaq23,241.99 -177.09 (-0.76%)Russell 20002,481.91 -18.68 (-0.75%)VIX14.95 0.00 (0.00%)Gold4,332.10 -9.00 (-0.21%)Trending tickersBTC-USD Bitcoin USD 87,810.44 -1,033.55 (-1.16%)^GSPC S&P 500 6,845.50 -50.74 (-0.74%)^IXIC NASDAQ Composite 23,241.99 -177.09 (-0.76%)ETH-USD Ethereum USD 2,983.31 -4.46 (-0.15%)XRP-USD XRP USD 1.85 -0.02 (-1.31%)PortfolioSign in to access your portfolioSign inTop gainersAXSM Axsome Therapeutics, Inc. 182.64 +33.85 (+22.75%)PSNY Polestar Automotive Holding UK PLC 21.37 +1.88 (+9.65%)ONDS Ondas Holdings Inc. 9.76 +0.77 (+8.57%)DJT Trump Media & Technology Group Corp. 13.24 +0.67 (+5.33%)PBF PBF Energy Inc. 27.12 +1.08 (+4.15%)Top losersCORT Corcept Therapeutics Incorporated 34.80 -35.40 (-50.42%)QXO QXO, Inc. 19.29 -1.75 (-8.32%)RGC Regencell Bioscience Holdings Limited 21.00 -1.90 (-8.30%)NIO NIO Inc. 5.10 -0.40 (-7.27%)PSLV Sprott Physical Silver Trust 23.65 -1.57 (-6.23%)Most activeONDS Ondas Holdings Inc. 9.76 +0.77 (+8.57%)NVDA NVIDIA Corporation 186.50 -1.04 (-0.55%)PLUG Plug Power Inc. 1.9700 +0.0350 (+1.81%)NIO NIO Inc. 5.10 -0.40 (-7.27%)TSLA Tesla, Inc. 449.72 -4.52 (-1.00%)Top economic eventsEarnings eventsMy earnings eventsEarnings events